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3 Mistakes To Absolutely Avoid In A 1031/TIC Exchange
We've all made bad decisions in the past. Don't you just hate to hear "I told you so" from your friends and family? Or, maybe you catch yourself saying "If only I'd have..."?
Personally, I'm one of those people who prefers to learn from someone...
Delaware Real Estate – Living On The Water
A classic Atlantic state, Delaware is known for beaches and towns on the Atlantic Ocean. Delaware real estate prices aren’t bad and appreciation is excellent.
Delaware
Delaware is a state with a lot of coastline. When you think of wind swept...
Golf Course & Waterfront Living: Live, Play, Relax
With today’s planned lifestyle communities, golf and boating enthusiasts have an opportunity to purchase the home of their dreams just a chip shot away from the green or stone’s throw from the marina. In addition to an ideal home setting, golf and...
New Decor for a New year
January is a time for setting goals and making plans for the
year ahead. The typical resolutions of losing weight or saving
money could be made a little easier when you feel proud of where
you live. You deserve a beautiful home. There are four...
South Dakota Real Estate – Step Away From The Rat Race
From National Parks to a relaxed pace of life, South Dakota has a lot more going for it then you might think. With some of the cheapest prices in the land, South Dakota real estate is a steal.
South Dakota
If you’re looking for bustling cities...
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Condominiums – Disadvantages Of Ownership
Purchasing a new residence involves many issues and condos may be on your radar. Before you buy, keep in mind there are disadvantages to condominium ownership.
Condominiums – Disadvantages
Condominiums are simply a collection of units in a structure or structures. All property on the interior of the unit is yours with few limitations. Everything outside of the unit, however, is considered to be in the common areas and subject to administration by the homeowners association for condominium communities. As with any bureaucracy, this can lead to problems.
1. Parking – One of the biggest pet peeves with condominiums is parking. While this may sound petty, it becomes a big issue over time if a particular situation occurs. One would think a condominium comes with assigned parking. In many developments, however, this simply isn’t the case. Instead, parking is on a first come, first serve basis. Over time, this situation can become extremely aggravating. With guests in the neighborhood, you may eventually find it difficult to getting parking!
2. Restriction – Condominiums are all about uniformity. If you prefer to express your individuality, the rules of a condominium may drive you insane. Since people live close to each other in condos, there has to be a number of rules to keep the peace. Many condominium associations, however, seem to go overboard with rules and one can often feel like a prisoner. You may be restricted from having pets, particular types of material
in your units, renting to others, making noise outside during certain times and so on. Before taking the plunge on a condominium unit, you absolutely must read the rules and regulations for the association.
3. Association Fees – Homeowners’ associations need money to keep the gardening up and so on. As a unit owner, you are responsible for paying monthly homeowners’ association fees. Before taking the plunge, you need to make sure you understand the current fees. You should also look back in time to see how much the fee has risen over time. Paying an extra hundred bucks or so a month probably will not kill you, but what if the monthly fee is five hundred dollars?
The decision to purchase a condominium can be a complex one. While there are distinct advantages, the devil is in the details. Make sure you understand what you are getting into before taking the plunge.
About the Author: Raynor James is with the FSBO site - http://www.fsboamerica.org - FSBO homes for sale by owner. Visit our home buying page - http://www.fsboamerica.org/buyer.cfm - to view and buy homes, houses, condos, land and real estate.
Source: www.isnare.com
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